KBC Bank Ireland cuts mortgage interest rates

KBC Bank Ireland cuts mortgage interest rates

KBC Bank Ireland has cut is variable and fixed mortgage interest rates by between 0.1% and 0.6%.

The new rates will apply to both new and existing customers and will see some paying as little as 2.9%.

Existing customers will be able to get the same lower rates based on the equity they have in their homes.

KBC are not cutting its standard variable rate, which is 4.25%.

New mortgage customers will be able to benefit from KBC’s new mortgage rates from November 1, while existing customers can apply from December 1, 2016, by submitting an up-to-date valuation of their property by a valuer approved by KBC.

Under the deal, an existing customer with a €250,000 mortgage on a variable rate of 4.25%, 20 years remaining and an LTV between 80% and 90% can save €98.19 per month on the reduced rate of 3.5%.

If this customer opted for the one-year fixed rate of 2.9pc, repayments would fall by €170 a month. The new 2.9pc fixed rate for a year was the lowest in the market, KBC said.

It applies to those with loan-to-value of less than 90pc.

The bank said that all mortgage customers can continue to avail of the 0.20% mortgage rate discount where a KBC current account is maintained.

They are also offering €2,000 towards professional fees for all mortgage customers (switchers, movers, first time buyers and buy to let) and have extended their offer of 50% off KBC home insurance for all new mortgage customers in year one until December 31, 2016.

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